Report: Facebook's Instagram Attempting to Poach TikTok Users For New Video Service

Facebook (NASDAQ: FB) is opening its wallet to lure talent to an upcoming video service. The Wall Street Journal reported Tuesday, citing "people familiar with the matter," that the tech company's Instagram photo sharing unit has made "lucrative" financial offers to TikTok video makers with high numbers of followers to defect to Reels -- Instagram's short video offering that is slated to debut in August.

The article did not specify how much in these bounties Facebook/Instagram is offering, nor how many "creators," in TikTok parlance, have been approached and accepted the offers.

Image source: Getty Images.

Continue reading

Source Fool.com